SpiceJet nudges higher on buzz of fleet expansion

SpiceJet rose 0.95% to Rs 63.75 at 11:00 IST on BSE after reports the company is expected to order at least 92 Boeing Co 737 jetliners, as it looks to bolster its presence in the world's fastest growing aerospace market.

Meanwhile, the BSE Sensex was up 7.62 points, or 0.03%, to 26,885.86.

On the BSE, 20.65 lakh shares were traded in the counter so far, compared with an average volume of 42.64 lakh shares in the past one quarter. The stock had hit a high of Rs 64.70 and a low of Rs 63.50 so far during the day. The stock had hit a 52-week high of Rs 95.30 on 28 January 2016. The stock had hit a 52-week low of Rs 54.50 on 9 November 2016.

The stock had underperformed the market over the past one month till 5 January 2017, rising 0.48% compared with the Sensex's 2.01% rise. The scrip had, however, outperformed the market in past one quarter, gaining 8.04% as against the Sensex's 4.76% fall.

The mid-cap low-cost airliner has an equity capital of Rs 599.45 crore. Face value per share is Rs 10.

As per reports, the deal, which would more than double SpiceJet's 40-plane fleet, may be closed within weeks. The order could be worth about $10.1 billion, report added.

SpiceJet's net profit jumped 103.1% to Rs 58.92 crore on 33.9% rise in net sales to Rs 1378.47 crore in Q2 September 2016 over Q2 September 2015.

SpiceJet is a low-cost airliner.

Powered by Capital Market - Live News